Anonymous vows to bring Do Kwon’s ‘crimes’ to light

Hacktivist group Anonymous has pledged to “make sure” Terra co-founder Do Kwon is “brought to justice as soon as possible” in regards to the collapse of the Terra (LUNA) and TerraUSD (UST) ecosystems in May.  On Sunday, a video purportedly coming from the Anonymous hacker group aired out a laundry list of Kwon’s alleged wrongdoings, … Read more

Do Kwon Interview Explains He’s ‘Devastated’ by LUNA Collapse, Says ‘There’s a Difference Between Failing and Fraud’ – Bitcoin News

During a recent interview with the Wall Street Journal (WSJ), Terraform Labs (TFL) founder Do Kwon said he was “devastated” by the LUNA and UST implosion that took place in mid-May. He told the WSJ that he was probably a billionaire when LUNA tapped an all-time high before the collapse, but lost a great portion … Read more

Class-Action Lawsuit Accuses Terraform Labs of Misleading Investors – Bitcoin News

Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP. … Read more

Korean exchanges agree on emergency system in case of Terra-style collapse

Korea’s leading exchanges have agreed to form a new emergency system that will spring into action within 24 hours should another Terra-style collapse threaten to come to pass. Under the new system, exchanges will convene to respond to sudden adverse market effects, such as what happened with Terra in May. The agreement came after five … Read more

Lawsuit Accuses Binance US of Selling Unregistered Securities, False Advertising Terra UST as ‘Safe’ – Bitcoin News

A class-action lawsuit against Binance US has been filed in California that alleges the exchange misled investors and sold unregistered securities to roughly 2,000 plaintiffs. The case was filed by the law firm Roche Freedman LLP, a company known for high-profile crypto lawsuits during the last few years. The lawsuit accuses Binance US of marketing … Read more

Do Kwon Accused of Cashing out $2.7B Before UST Collapse, Terra Founder Says Allegations Are False – Bitcoin News

Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been keeping tabs on Fatman’s accusations … Read more

Kim Dotcom on the ‘Great Reset,’ Strong Russian Ruble Puzzles Economists, and More — Bitcoin.com News Week in Review – The Weekly Bitcoin News

This week, entrepreneur and activist Kim Dotcom said the “U.S. is beyond bankrupt,” and minced no words about a potential “controlled demolition of global markets.” Meanwhile, American economists are interested in the ruble’s strong performance in spite of sanctions against Russia, a new book emerges claiming to tell the “Real Story Behind Mysterious Bitcoin Creator … Read more

US SEC Investigating Do Kwon’s Terraform Labs and UST Collapse: Report – Regulation Bitcoin News

The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.” SEC Launches Investigation of Terraform Labs and UST The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST), … Read more

LUNA2 traders are increasingly short despite 67.5% rally, $4 million liquidated

Terra (LUNA2) reversed a portion of the losses this June 9 as its price per token rose by as much as 67.5% on the day, catching many traders off-guard with their perpetual swap positions. LUNA2 traders are shorting it In detail, LUNA2’s price soared from $2 to as high as $3.58. The volatile intraday move … Read more

Anchor dev claims he warned Do Kwon over unsustainable 20% interest rate

Anchor protocol was originally designed to offer an interest rate of 3.6% but this was dialed up to 20% just a week before release to attract more investors, a core developer alleged in an interview with Korean media outlet JTBC.  “I did not know that this would go out with such a high-interest rate. Set … Read more